Overview

Panama Golden Pineapple

Panama Golden Pineapple was Farmfolio’s first offering in the Republic of Panama, successfully raising $2.2 million. Partnering with legendary pineapple farmer Edna Vergara and her son Paul, we shifted PGP's market strategy towards high-color, high maturity fruit shipped by air. Taking advantage of Panama's logistical and climactic advantages, PGP utilized Farmfolio's global presence and the La Dona brand to establish Panama as an origin of premium Air Pineapple.

Corporate Structure
Panama Golden Pineapple
In 2017, Farmfolio partnered with the Vergara family to create Panama Golden Pineapple. PGP combined the Vergara's expertise with Farmfolio's global market engagement to introduce the world to high-maturity, high-color pineapple from Panama.
Fixed Assets
Land & Irrigation
Land & Irrigation
Located a mere 40 minutes from the Panama Canal, the acquired land from the net 117 hectares consists of 38 hectares of prime pineapple-growing land in the lush coastal lowlands of Chorrera, Panama with sufficient water and road access in order to compensate for water shortage during the dry season with help of irrigation systems played across the property.
Verba Odrec S.A, Panama

Located a mere 40 minutes from the Panama Canal, the acquired land from the net 117 hectares consists of 38 hectares of prime pineapple-growing land in the lush coastal lowlands of Chorrera, Panama with sufficient water and road access in order to compensate for water shortage during the dry season with help of irrigation systems played across the property.

Properly planted, each hectare can hold 30,000-50,000 plants achieving a net yield of 50-60 tons during the average 12-month plant cycle. This high-yield production requires significant water access, and the Panama Golden Pineapple team has installed several water reservoirs across the property.

The PGP property is also unique for its ideal proximity to ports, airports, and the Panama Canal. This allows us to utilize premium air freight with great efficiency, and PGP’s pineapples can reach international markets as far as Dubai in a matter of days. Our logistical capabilities are a key component of PGP’s success, and will only improve with time.

Farm Equipment
Farm Equipment
Panama Golden Pineapple currently holds ownership of 2 new tractors, aside from the existing 3 tractors owned by Verba Odrec, the operator. Additionally, the partnership acquired a new Spary boom which can be utilized for a variety of applications including pesticides, weed control, and induction throughout the fruit's 12-month growing cycle.
Verba Odrec S.A, Panama

Panama Golden Pineapple currently holds ownership of 2 new tractors, aside from the existing 3 tractors owned by Verba Odrec, the operator. Additionally, the partnership acquired a new Spary boom which can be utilized for a variety of applications including pesticides, weed control, and induction throughout the fruit’s 12-month growing cycle.

Products
Summary
Share Price $1,000
Number of Shares 2200
Minimum Investment $100,000
Total Capital to Raise $2,200,000
Capital Raised $2,200,000
Avg. 10 Year Yield 18.67%
20 year Total Return 168%
IRR 16.84%
Ownership Percentage
Capital Structure
Type Source % of Total Amount
Private Equity Farmfolio Network 100 $2,200
Owner's Profile

The story of Edna Vergara is the story of Panama Golden Pineapple, no more, no less. Edna’s visionary leadership guided her operation to the forefront of Panamanian agriculture, and it was impossible not to see the potential in her and her farm. With her son Paul Vergara, an agribusiness expert, manning the helm of day-to-day operations on the farm and Farmfolio providing capital and management services, Panama Golden Pineapple’s success has been as sweet as the pineapples themselves.

Capital Uses
Land Plant Supply 21.45%
Debt Payoff 15.98%
Land Purchase Family 15.98%
Development Fee 12.11%
Contract Management 7.46%
Marketing 7.26%
Machinery 3.87%
Indirect Cost 3.39%
First Year Lease (75 ha) 3.00%
Miscellaneous 1.26%

Team

The duties of the Farmfolio's investment team consist of analysing international markets, studying logistical and regulatory circumstances on the ground, and defining the structure of the investment opportunity, and other tasks. In addition to the core Farmfolio team, the PGP offering closely involved Edna and Paul Vergara, who helped lay out PGP's capital allocation strategy.